Please find enclosed herewith Monitoring Agency report for the quarter ended March 31, 2026
BBOX · price
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Black Box Limited has submitted its Q4 FY26 monitoring agency report for a preferential warrant issue managed by CARE Ratings. The company raised Rs. 386.36 crore through 92.65 lakh fully convertible warrants at Rs. 417 per warrant (down from the planned Rs. 410 crore due to undersubscription). Of the total proceeds, Rs. 147.98 crore (38%) has been utilized as of March 31, 2026, with Rs. 238.38 crore still unutilized and parked in fixed deposits with Bank of Maharashtra. The revised objects include Rs. 241.36 crore for subsidiary investments, Rs. 45 crore for general corporate purposes, and Rs. 100 crore newly added for working capital. No deviations from stated objects were observed, and shareholder approval for the revised objects was obtained via postal ballot in March 2025.
The report indicates that warrant proceeds are being deployed in line with revised objects approved by shareholders. The significant unutilized balance (62%) earning 3.75% in fixed deposits suggests measured deployment. Investors should note that Rs. 151.16 crore was received just before quarter-end (March 17, 2026), explaining the large idle balance.